Britton Named Vice Chairman Of Fleet Unit
Charles P. Britton 3d will become vice chairman of Fleet/Norstar Financial Group's Connecticut bank, which encompasses Fleet Bank of Connecticut and New Connecticut Bank and Trust Co., Hartford.
Robert J. Higgins was earlier named chairman and chief executive officer of the Connecticut bank.
Fleet/Norstar is operating the Bank of New England bridge banks, including Connecticut Bank and Trust, under an interim management agreement with the Federal Deposit Insurance Corp.
During the management period, final terms for the purchase of selected Bank of New England assets and deposits by Fleet/Norstar will be completed.
The Bank of New England sale is expected to close by mid-summer. Mr. Britton's new position will take effect upon completion of the sale.
Fleet/Norstar's restructured Connecticut bank will operate statewide with approximately 170 offices and will have total assets of about $7 billion upon completion of the FDIC-assisted transaction.
Mr. Britton, 52, joined Fleet Bank's predecessor, Riverside Trust Co., in 1962. In 1965, after serving in the Navy, he established the credit department for the newly named United Bank. He subsequently managed several bank branches.
He then worked as a commercial lender. He was appointed senior loan officer of the bank in 1972, and in 1980 he became an executive vice president. Mr. Britton was made chief executive officer in 1988.